@venga
Robinhood built a blockchain for stocks… but ended up with Memecoins 😅
On July 1, Robinhood launched its own Ethereum Layer-2, Robinhood Chain.
With it, the mission is to bring stocks, ETFs, and other RWAs on-chain, making them:
⌚️ available for 24/7 trading
🔒 storable in self-custody wallets
💻 compatible with DeFi applications
But since its launch, the network has been dominated by… memecoins!
So far, over 99% of trading volume has come from memecoins, followed by some crazy pumps and speculation!
Nevertheless, the chain’s launch was quite a success. In its first week, it recorded:
🔁 17M+ transactions
💼 350K wallet addresses
📊 $1B+ in DEX volume during its first week
Now, the question is whether it can convert that early hype into long-term adoption of tokenized RWAs 🤔
Read more 👉 https://venga.com/en/blog/robinhood-build-a-blockchain-for-stocks-but-got-memecoins/
Will Robinhood become a RWA leader… or accidentally the next memecoin go-to place? 👀
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